Overview of Virtual Competition Book

Shoppers with Internet access and a bargain-hunting impulse can find auniverse of products at their fingertips. In this thought-provoking expos , ArielEzrachi and Maurice Stucke invite us to take a harder look at today sapp-assisted paradise of digital shopping. While consumers reap manybenefits from online purchasing, the sophisticated algorithms anddata-crunching that make browsing so convenient are also changing the natureof market competition and not always for the better.Computers colluding is one danger. Although long-standing laws preventcompanies from fixing prices, data-driven algorithms can now quickly monitorcompetitors prices and adjust their own prices accordingly. So what isseemingly beneficial increased price transparency ironically can end upharming consumers. A second danger is behavioral discrimination. Here,companies track and profile consumers to get them to buy goods at thehighest price they are willing to pay. The rise of super-platforms and their frenemy relationship with independent app developers raises a third danger.By controlling key platforms (such as the operating system of smartphones),data-driven monopolies dictate the flow of personal data and determine whogets to exploit potential buyers.Virtual Competition raises timely questions. To what extent does the invisiblehand still hold sway? In markets continually manipulated by bots andalgorithms, is competitive pricing an illusion? Can our current laws protectconsumers? The changing market reality is already shifting power into thehands of the few. Ezrachi and Stucke explore the resulting risks to competition,our democratic ideals and our economic and overall well-being.

• Book Type :

Business & Finance

• Book Binding :

Paperback

• Language :

English

• Number of Pages :

• ISBN - 10 :

0674545478

• Virtual Competition Published On :

15 Mar 2017

• Resource:

Textbooks, Business & Finance Books for Students, Teachers, Graudates, Professionals and all others

Disclaimer:

• Virtual Competition Book is not for reading online or for free download in PDF or eBook format.
• Table of Contents,Index,Syllabus,summary and image of Virtual Competition book may be of a different edition or of the same title.
• Price can change due to reprinting, price change by publisher or sourcing cost change for imported books.